Economic Indicators

German business sentiment stagnates in May, Ifo says

2024.05.27 04:47

BERLIN (Reuters) – German business morale stagnated in May, a survey showed on Monday, falling short of a forecast improvement.

The Ifo institute said its business climate index remained constant in May at 89.3, compared with a reading of 90.4 forecast by analysts in a Reuters poll.

Companies were less satisfied with the current business situation. Expectations, on the other hand, brightened.

© Reuters. FILE PHOTO: Containers are unloaded from the Hapag-Lloyd container ship Chacabuco at the HHLA Container Terminal Altenwerder on the River Elbe in Hamburg, Germany March 31, 2023. REUTERS/Phil Noble/File Photo

Industry, trade and construction are recovering, while service providers are suffering a setback, the Ifo institute said.

“The German economy is gradually working its way out of the crisis,” the report said.



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